Regulations on Determining Salary, Remuneration, and Bonus Funds for Dedicated Fund Managers - Draft

To be specific, according to the provisions of Article 7 Draft Circular guiding the management of labor, salary, remuneration, bonuses for the Credit Guarantee Fund for Small and Medium Enterprises, the determination of the salary plan fund, remuneration plan fund; determination of the actual salary fund, remuneration fund, and bonus fund; payment of salaries, remuneration, bonuses for managers of the Credit Guarantee Fund for Small and Medium Enterprises is carried out in accordance with Articles 3, 9, 11, 12, 14, 15, 16, 17, 18 and Clauses 1, 3, 4, 5, 6 of Article 10 of Circular No. 27/2016/TT-BLDTBXH.

When determining the salary plan fund, remuneration plan fund, salary fund, remuneration fund, the profit target is replaced by the revenue-expense difference target stipulated in Clause 2, Article 4 of the Draft Circular. In case the Fund meets all conditions: preserving and developing state capital; paying taxes and state budget contributions as required by law; maintaining average labor productivity; and the revenue-expense difference is higher than the previous year, the average planned salary for the dedicated Fund managers is determined as follows:

TLbqkh = TLcb + TLcb x Hln

Where:

- TLbqkh: The average planned salary of the dedicated Fund manager;

- TLcb: The basic salary of the dedicated Fund manager determined in accordance with Clause 1, Article 10 of Circular No. 27/2016/TT-BLDTBXH.

- Hln: The additional salary coefficient compared to the basic salary linked to the revenue-expense difference as follows: for a difference of less than VND 3 billion, Hln is calculated at a maximum of 0.3; for a difference from VND 3 billion to less than VND 30 billion, Hln is calculated at a maximum of 0.5; for a difference from VND 30 billion to less than VND 60 billion, Hln is calculated at a maximum of 0.7; for a difference of VND 60 billion or more, Hln is calculated at a maximum of 1.0.

Additionally, when determining the salary plan fund, remuneration plan fund, and salary fund, remuneration fund for the Fund managers, the Fund must exclude objective factors affecting labor productivity, total revenue minus total costs in accordance with the provisions of Article 5 of the Draft Circular.

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